Long Streak of Rising LA Gas Prices Ends

A 27-day streak of increases to the average price of a gallon of self-serve regular gasoline in Los Angeles County ended today with a decrease of two-tenths of a cent, to $4.375.

The average price rose 57.2 cents during the streak, reaching its highest amount since July 25, 2008, according to figures from the AAA and Oil Price Information Service.

Despite today's slight decrease, the average price is 5.2 cents more than one week ago, 56.9 cents higher than a month ago and 49.3 cents greater
than a year ago.

Cheaper gas in Santa Monica is currently selling for about $4.37, according to Patch's taffic and gas map.

The Orange County average price recorded its first daily decrease since Jan. 15 today, decreasing two-tenths of a cent to $4.36. That's 4.6 cents more than one week ago, 56.7 cents higher than a month ago and 49 cents greater than a year ago.

A 27-day streak of increases ended Saturday when the price went unchanged. The Orange County average price rose three-tenths of a cent Sunday.

"It would appear the market has absorbed that quick wholesale
increase," Marie Montgomery of the Automobile Club of Southern California told
City News Service.

She was referring to a one-day, 35-cent per gallon increase in the wholesale cost of gasoline triggered by last month's major fire at the Cherry Point refinery near Blaine, Wash., forcing its closure for at least three weeks, reducing supply.

— City News Service